Noble Entered into HOA to Evaluate Floating LNG

Source: www.gulfoilandgas.com 11/29/2011, Location: Middle East

Noble Energy, Inc. announced that the partners in the Tamar and Dalit fields, offshore Israel, have entered into a Heads of Agreement (HOA) with Daewoo Shipbuilding & Marine Engineering Co. Ltd. and D&H Solutions AS to evaluate Floating LNG for the export of natural gas from the Tamar and Dalit fields.

Pursuant to the HOA, the parties will engage in preliminary engineering design work to define the technical parameters required for the detailed design. This phase would be followed, if the parties so decide, by Front End Engineering Design (FEED) and negotiation of relevant offtake agreements. Such agreements, if consummated, would not be expected to affect the planned supply capacity of the Tamar field to the Israeli market.

Noble Energy operates Tamar and Dalit with a 36 percent working interest. Other interest owners are Isramco Negev 2 with 28.75 percent, Delek Drilling with 15.625 percent, Avner Oil Exploration with 15.625 percent and Dor Gas Exploration with the remaining four percent.


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